Flowers Foods Earnings: Here’s Why Investors Like These Results
Flowers Foods, Inc. (NYSE:FLO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.28%.
Flowers Foods, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 64.29% to $0.46 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Rose 25.92% to $1.13 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Flowers Foods, Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $1.09 billion.
Quoting Management: Chairman and CEO George Deese said, “We believe the results we reported today reflect the best performance in the company’s history. We achieved substantial sales increases in both segments, across all channels, and in our primary product categories. We also delivered outstanding earnings. Throughout our company, team members performed incredibly well as they worked to serve customers’ needs following Hostess’ departure from the market last fall. Our investments in our bakeries and our distribution systems over several decades, combined with the strength and determination of our team, allowed us to take on new business and meet the needs of existing and new customers.”
Key Stats (on next page)…
Revenue increased 50.91% from $749.44 million in the previous quarter. EPS increased 64.29% from $0.28 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.30 to a profit $0.32. For the current year, the average estimate has moved up from a profit of $1.28 to a profit of $1.36 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)